Niraj Cement Structurals Ltd (NIRAJ) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 532986 | NSE: NIRAJ | Engineering - Construction | Small Cap

Niraj Cement Struct. Share Price

36.34 0.00 0.00%
as on 05-Dec'25 12:24

Niraj Cement Structurals Ltd (NIRAJ) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 532986 | NSE: NIRAJ | Engineering - Construction | Small Cap

DeciZen - make an informed investing decision on Niraj Cement Struct.

Based on:

Overall Rating
Login to view analysis. M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality


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2. Valuation


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3. Price Trend


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Niraj Cement Structurals stock performance -

Key Ratios
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P/E Ratio (SA):
10.51
Market Cap:
216.9 Cr.
52-wk low:
27.7
52-wk high:
71.9

Is Niraj Cement Structurals Ltd an attractive stock to invest in?


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10 Year X-Ray of Niraj Cement Struct.: Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Niraj Cement Structurals Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 1.6%0.9%2%0.7%1.2%1.1%1.7%3.5%7.8%10.2%-
Value Creation
Index
-0.9-0.9-0.9-1.0-0.9-0.9-0.9-0.8-0.4-0.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 106108108109124175356605470507552
Sales YoY Gr.-1.8%-0.3%1.5%13.1%41.4%103.9%69.8%-22.3%7.8%-
Adj EPS 0.60.40.6-3.11.40.51.41.842.63.5
YoY Gr.--29.5%46.5%-593.7%NA-65%177.6%31.6%121.8%-33.5%-
BVPS (₹) 127.6118.998.482.383.243.34443.93840.842.8
Adj Net
Profit
0.70.50.9-5.82.625.47.215.915.721
Cash Flow from Ops. -8.1-59.1509.1-18-5.238.6-30.528-82.9-
Debt/CF from Ops. -13.1-2.21.12.3-1.1-5.90.4-0.90-0-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 19%32.6%12.4%7.8%
Adj EPS 17.7%13.5%24.7%-33.5%
BVPS-11.9%-13.3%-2.4%7.3%
Share Price 4.4% -6.5% 6.3% -41.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
0.50.40.6-3.71.61.13.14.19.77.98.3
Op. Profit
Mgn %
42.4-1.61.43.80.51.41.53.53.23.6
Net Profit
Mgn %
0.60.50.9-5.32.11.11.51.23.43.13.7
Debt to
Equity
0.810.40.10.10.20.10.2000
Working Cap
Days
87798994772960347525615818519083
Cash Conv.
Cycle
1423184042711611116035422947

Recent Performance Summary

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Latest Financials - Niraj Cement Structurals Ltd.

Standalone Consolidated
TTM EPS (₹) 3.5 3.4
TTM Sales (₹ Cr.) 552 553
BVPS (₹.) 42.8 42.7
Reserves (₹ Cr.) 196 195
P/BV 0.85 0.85
PE 10.51 10.61
From the Market
52 Week Low / High (₹) 27.70 / 71.94
All Time Low / High (₹) 4.16 / 239.60
Market Cap (₹ Cr.) 217
Equity (₹ Cr.) 59.7
Face Value (₹) 10
Industry PE 29.6

Management X-Ray of Niraj Cement Struct.:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Niraj Cement Struct. - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Event Update

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Analyst's Notes

data not found
No data found!

Key Ratios of Niraj Cement Struct.

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales106108108109124175356605470507
Operating Expenses 102105109108119174351596454491
Manufacturing Costs101104106105113169343578444483
Material Costs-1-1003129-1-3
Employee Cost 0011111121
Other Costs 12223358910
Operating Profit 43-2251591616
Operating Profit Margin (%) 3.9%2.4%-1.6%1.4%3.8%0.5%1.4%1.5%3.5%3.1%
Other Income 1181044487
Interest 3110000000
Depreciation 2211111122
Exceptional Items 0000-1-1-4-5-9-0
Profit Before Tax 114122361420
Tax 003-0011235
Profit After Tax 111121241015
PAT Margin (%) 0.6%0.7%1.0%1.1%1.3%0.8%0.7%0.7%2.2%3.0%
Adjusted EPS (₹)0.60.70.70.70.80.30.61.02.62.6
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 138140146156158177179176153244
Share Capital 11121522224343404060
Reserves 127128131135137134136136113184
Minority Interest0000000000
Debt871065115172692601
Long Term Debt71104501515105000
Short Term Debt1722021642601
Trade Payables3525212730830381936
Others Liabilities 298440202566947384103
Total Liabilities 290355258218230277313314255383

Fixed Assets

Gross Block40363431313232323539
Accumulated Depreciation20191818202223242628
Net Fixed Assets 20171613111087911
CWIP 0000000001
Investments 110001414141523
Inventories17202010876367
Trade Receivables6315094876466781025768
Cash Equivalents 7147411637232330
Others Assets 182154122104136175170165145243
Total Assets 290355258218230277313314255383

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity -8-59509-18-539-3028-83
PBT 114122361420
Adjustment 32122-0-1-0-34-32
Changes in Working Capital -12-62456-22-637-3752-66
Tax Paid -0-0-0-0-0-1-10-3-5
Cash Flow From Investing Activity 121259-9-1115-6-19
Capex 02-00-0-0-0-0-4-4
Net Investments 000-00-14-0-0-1-8
Others 1-112595-1116-1-7
Cash Flow From Financing Activity 863-55-36189-175-26104
Net Proceeds from Shares 0150103400020
Net Proceeds from Borrowing 941-54-35-0-4-5-500
Interest Paid -3-1-1-0-0-0-0-0-0-0
Dividend Paid 0000000000
Others 19-0-219-21-1211-2684
Net Cash Flow 06-5-19-510-11-42

Finance Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)0.480.570.730.831.020.81.422.286.257.68
ROCE (%)1.580.921.960.731.151.091.713.497.810.22
Asset Turnover Ratio0.370.330.350.460.550.691.211.931.651.59
PAT to CFO Conversion(x)-8-59509-9-519.5-7.52.8-5.53
Working Capital Days
Receivable Days21636041430222213674546245
Inventory Days5262675026156235
Payable Days00003,9236,0832,9301,3300-2,860

Niraj Cement Structurals Ltd Stock News

Niraj Cement Structurals Ltd FAQs

The current trading price of Niraj Cement Struct. on 05-Dec-2025 12:24 is ₹36.34.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Dec-2025 the market cap of Niraj Cement Struct. stood at ₹216.9.
The latest P/E ratio of Niraj Cement Struct. as of 04-Dec-2025 is 10.51.
The latest P/B ratio of Niraj Cement Struct. as of 04-Dec-2025 is 0.85.
The 52-week high of Niraj Cement Struct. is ₹71.94 and the 52-week low is ₹27.70.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Niraj Cement Struct. is ₹552.4 ( Cr.) .

About Niraj Cement Structurals Ltd

Niraj Cement Structurals was originally incorporated in India as Niraj Cement Structurals Private Limited on April 1, 1998 under the Companies Act, 1956 and was converted to Public Limited Company with effect from January 12, 2006.

The promoters the NCSL has more than 3 decades of experience in construction industry. NCS has grown from a modest pre-casting outfit in 1970s to a modern, state-of-the-art civil construction company specializing in the timely execution of complex projects in the areas of roads, flyovers, pedestrian subways, airport runways, dams, spillways, etc.NCSL started its foray into civil engineering in the year 1998.

It is an engineering and construction company focusing on road construction development. We were incorporated on April 1, 1998 as a private company. We took over the business of Niraj Cement Structurals (partnership firm) in December 1999, which was engaged in cement structural business since 1987. the company is engaged in construction of road projects through sub contracting. We are headquartered in Mumbai and have capability to execute various road construction projects.

Its present areas of operations are sub-contracting including providing EPC services. It has a fleet of construction equipment all of which it own directly or through its joint ventures.

The company enters into sub-contracting assignments primarily through a competitive bidding process. It aims to establish its direct presence over a period of time. As the project sizes are expanding it team with major contractors to meet specific eligibility requirements for certain larger projects, including requirements relating to particular types of experience and financial resources, it also enter into project-specific joint ventures with other construction companies at times as minor partners and EPC sub-contractor.

With success in the field as a major quality player, the Company diversified into other related activities of infrastructure development, building roads, airport upgradation, ready mix concrete and others. With a view to achieve quality and quantity output, the company decided to possess and own modern machineries.

As on date the Company owns Slipform Paver of Gomaco USA, Slipform Paver suitable for paving upto 16 mets of Gunteret & Zimmerman of USA. Transit Mixers of BNK Italy , Taurus Tippers with HYVA (Holland) hydraulic arrangements, Crusher 130M3/H Puzzolana, Batching Plant of 160 cum/hr of Simem Italy, Dry Lean concrete (DLC) paver of Ingersoll Rand, Switzerland make, Motor graders of Volvo, Earthmoving machineries of L&T Komatsu, Volvo, Escorts and many other machineries required for Construction and Infrastructure Projects for qualitative and quantitative output. All the equipments are with computerized operation and maintenance.

Projects Completed

  • Worli Bandra Sea Link Package-III Construction of solid approach road from end of improved Mahim flyover upto start of toll plaza area on Bandra side.
  • Construction of Apron Flooring in connection with Construction of Air India Hanger Project, Mumbai
  • Construction of Dry Lean Concrete & Pavement Quality with Slip Form Paver at Part Kon to Kalamboli
  • Replacement of existing concrete pavement (apron) panels in front of Air India Hanger No. 1 & 2 at Old Airport, ‘S’ Cruz (E), Mumbai - 29
  • Construction of New Fire Station at Mumbai Airport Mumbai, SH Rigid Pavement
  • Execution of Track linking works in between Tomka-Keonjhar on E.C. Railway

Projects In Hand

  • Widening to 4/6 lanes and strengthening of existing 2 lane carriageway of NH-60 in the state of Orissa from 31.000 Km. t0 53.410 Km. Contract Package IV
  • Widening and construction of LBS Marg from Sion to Kanjurmarg (Km 0.00 to 11.156)
  • Widening and construction of LBS Marg from Kanjurmarg to Mulund Check Naka  (Km 11.156 to Km. 18.831)
  • Dam & Spilway under Tuirial Hydro Electric Power Station Project Mizoram, Lot – II
  • Strengthening and Extension of Container Yard at NMPT With Paver   Blocks
  • Providing Heavy Duty Pavement behind Berth No.5 to Berth No.7
  • Providing works as a backup requirement to the Deep Draft Multipurpose Berth at NMPT
  • Providing Paver Block Pavement at Main Gate, KK Gate and Seamen’s Circle Junction in the Wharf Area
  • Improvement such as providing two lanes rigid pavement carriageway with paved shoulders of 1.5m on both sides with reconstruction / rehabilitation / widening of CD works to Cuttack – Paradeep road (SH-12) from 0/000 to 43/000 Km
  • Improvement such as providing two lanes rigid pavement carriageway with paved shoulders of 1.5m on both sides with reconstruction / rehabilitation / widening of CD works to Cuttack – Paradeep road (SH-12) from 43/000 to 82/000 Km

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